WS #14348
US strikes on Iranian launchers at Larak Island trigger Iranian missile/drone retaliation on US bases in Jordan and UAE, escalating the conflict and spiking oil prices. Brent crude jumps above $90 and WTI above $85 on Hormuz supply fears, benefiting energy producers and pressuring airlines and consumers. US announces 25-year deal for control of Venezuelan oil fields, aiming to boost supply and counter oil price spikes, but faces infrastructure and political hurdles.
US-Iran military escalation
US strikes on Iranian launchers at Larak Island trigger Iranian missile/drone retaliation on US bases in Jordan and UAE, escalating the conflict and spiking oil prices.
Brent crude jumps above $90 and WTI above $85 on Hormuz supply fears, benefiting energy producers and pressuring airlines and consumers.
US announces 25-year deal for control of Venezuelan oil fields, aiming to boost supply and counter oil price spikes, but faces infrastructure and political hurdles.